There is a lot of hoopla surrounding marijuana legalization at the moment.
While most states have legalized the use of medical marijuana programs, more and more are legalizing recreational marijuana facilities.
But with so much consistent change in marijuana laws, it’s easy to feel overwhelmed by new state and federal regulations.
This is what you need to know about marijuana legalization.
Why Legalize Marijuana at All?
There are many critical reasons that states are advancing the legalization of marijuana. Whether for medicinal or recreational use, there are many benefits to legalization.
- The criminalization of marijuana unfairly targets people of color and sentences them to lengthy prison sentences when they’re arrested for marijuana use and distribution.
- Decriminalizing marijuana is an opportunity for states to regulate its commerciality and collect massive tax revenues from its sale.
- It can be another boon to the economy in terms of business growth and increased job opportunities.
Along with the economic and social benefits of legalizing marijuana, there is also the health component.
More and more research touts the efficacy of marijuana use in aiding pain management, decreasing anxiety and depression, and promoting more restful sleep.
It’s a Triumph for Cannabis Stocks
For anyone who plays the stock market, cannabis stock is hot property right now.
With more and more states legalizing marijuana use in one form or another, entrepreneurs are developing more cannabis-related businesses (CRB) to take advantage of the public’s growing interest in cannabis.
This means new stock investments and opportunities for investors. These are a few of the prime cannabis stocks to keep an eye on if you’re a stock market investor.
There are Different Types of Legal Marijuana
Most states have legalized medical marijuana, with currently about 40 of 50 have a legalized medical marijuana program. Still others are putting forth new legislation to legalize recreational marijuana.
What does this mean?
While the number of states legalizing recreational marijuana, there are plenty that still only have legalized medical marijuana use. Cannabis users can only purchase marijuana legally if they have a medical marijuana card.
There also tend to be different types of marijuana strains available at medical facilities versus recreational facilities.
Since CBD is the cannabis component responsible for promoting better health in its users, medical marijuana distributors focus on strains with higher CBD content.
Those who use recreational marijuana, on the other hand, often look for strains with higher THC content. THC is the marijuana component responsible for the euphoric “high” marijuana use promotes.
Know Your State’s Laws Prior to Purchasing
Every state has different rules on what type and amount of cannabis are legal, if it is even legal to purchase at all.
If you’re interested in purchasing marijuana for recreational or medicinal use, be sure to stay up to date on your state’s laws. You don’t want to wind up in an awkward or legally detrimental situation!
You May Be Able to Buy Marijuana Out of State
Medical marijuana users apply for and receive a state-sanctioned medical marijuana card.
They must follow their state’s specific rules as to what medical issue they qualify as having, and must have a doctor’s certification to help the process.
One thing that may concern medical marijuana cardholders is the prospect of traveling. If they rely on their local medical marijuana distributor to provide them with access to cannabis that heals a specific ailment, what do they do when they travel?
This can be another legally complicated issue.
Depending on the state you visit, medical marijuana cardholders may be able to use their out-of-state card to purchase cannabis. Learn more about the states that accept out-of-state medical marijuana cards here.
With marijuana laws changing rapidly, it’s hard to keep track of where your state stands. Besides your specific state’s laws, these are the other factors you need to know about marijuana legalization.
Know your state’s current laws, any changes in marijuana laws your state legislators are considering, and the laws of states you are traveling to.
While the legalization of marijuana on the federal level is supported by President Biden and his administration, we’re still not there quite yet.
Stay informed to protect yourself and your interests.
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